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Jul 16, 2012 4:00am EDT
george h.w. bush and special assistant to president reagan is here on set with us for the hour. mary jo, welcome. >> thank you. >> first of all. secondly, we just rattled through all of these financial earnings we're expecting this week. a lot of the focus has been on barclays. and from your point of view, this whole libor scandal, is this going to blow up into a much bigger deal for financials going forward? >> i don't see how we can avoid it. it's a big scandal. you've got disclosures from the new york fed going back to 2008. you've got deutsche turning what they're calling state's evidence in a plea for leniency. who knows where else it's going to go. i think if i had been advising barclays, i would have been torn about telling them to come out early, and hopefully, get it over with, versus coming out early and creating a bigger problem for themselves. >> i mean, they may have gotten some leniency with regard to the fine. >> yes. >> it's something like a 30% perhaps discount. >> right. >> but it's clear, and there's a great sort of tale of this in the "wall street journal" today that
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